Molson Coors Beverage Company (NYSE:TAP) Receives Average Rating of "Hold" from Brokerages

Key Points

• Molson Coors Beverage Company has an average recommendation of "Hold" from fifteen brokerages, with eleven analysts rating it as a hold and four as a buy.
• The company recently reported quarterly earnings of $0.50 per share, missing analysts' estimates of $0.80, with revenue down 11.3% year-over-year.
• Molson Coors has announced a dividend of $0.47 per share, representing an annualized yield of 3.67%, with the payment scheduled for September 19th.

Shares of Molson Coors Beverage Company (NYSE:TAP - Get Free Report) have been assigned a consensus rating of "Hold" from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $59.26.

TAP has been the subject of several analyst reports. Morgan Stanley decreased their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Citigroup cut their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Finally, Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director owned 27,595 shares in the company, valued at $1,553,322.55. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its holdings in Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC increased its stake in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Molson Coors Beverage in the 1st quarter worth $30,000. Financial Management Professionals Inc. increased its stake in shares of Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after acquiring an additional 493 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Molson Coors Beverage in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 1.4%

Shares of TAP stock traded up $0.72 during mid-day trading on Monday, hitting $50.64. 2,118,103 shares of the stock traded hands, compared to its average volume of 2,413,981. The stock has a market cap of $10.24 billion, a P/E ratio of 10.19, a P/E/G ratio of 2.84 and a beta of 0.69. The stock's fifty day moving average is $50.80 and its two-hundred day moving average is $55.47. Molson Coors Beverage has a 52-week low of $46.94 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The business's quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. Equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.71%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.